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could someone show me the JE and T accounts to use to solve this problem. I keep getting it wrong and the answer doesn’t show them. I think If I see them it will help.
Thanks!
On July 1, 20X0, Gee, Inc., leased a delivery truck from Marr Corp. under a 3-year operating lease. Total rent for the term of the lease will be $36,000, payable as follows:
12 months at $ 500 = $ 6,000
12 months at $ 750 = 9,000
12 months at $1,750 = 21,000
All payments were made when due. In Marr’s June 30, 20X2, balance sheet, the accrued rent receivable should be reported as:
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